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German investor morale brightens more than expected in October
October 11, 2016 / 9:16 AM / 10 months ago

German investor morale brightens more than expected in October

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BERLIN, Oct 11 (Reuters) - The mood among German analysts and investors improved more than expected in October, a survey showed on Tuesday, suggesting traders are more upbeat about the growth prospects of Europe's biggest economy.

Mannheim-based ZEW said its monthly survey showed a rise in its economic sentiment index to 6.2 points in October after an unchanged reading of 0.5 points the previous month. This was better than the Reuters consensus forecast for a reading of 4.3.

A separate gauge measuring investors' assessment of the economy's current conditions jumped to 59.5 points from 55.1 in September. This was also stronger than the Reuters consensus forecast which predicted a reading of 55.5.

"The improved economic sentiment is a sign of a relatively robust economic activity in Germany", ZEW President Achim Wambach said in a statement.

"However, positive impulses from industry and exports should not distract from existing political risks," Wambach added. "In particular, the risks concerning the German banking sector are currently a burden to the economic outlook."

The ZEW index was based on a survey of 213 analysts and investors conducted between Sept. 26 and October 10. (Reporting by Michael Nienaber; Editing by Joseph Nasr)

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